Nigerian Enamelware attributes Q1 2017 result delay to IT bug
The challenge of sustainability, which effects companies when their information technology systems (IT) are compromised may have manifested in Nigerian Enamelware Plc as the company recently disclosed.
The company recently acknowledged default in filling its first quarter (Q1) unaudited financial result for the period ended 31st July, 2017, attributing the delay to bug in its IT systems.
The company, in a statement, titled: “Filling of 2017 1st quarter unaudited financial statement of Nigerian Enamelware Plc” signed by its Company Secretary, Bamofin Olatokunbo Sanni and released by the Nigerian Stock Exchange (NSE), said “The late filing of the UFS was occasioned by glitch in the Accounting Package.
However, the company has put in place adequate measures and policies to forestall future occurrence and express its commitment to ensure timely submission of its financial statements and other post listing disclosure obligations.”
Nigerian Enamelware Plc wishes to notify its esteemed shareholders and the investing public that the company filed its Unaudited Financial Statements (UFS) for the period ended 31 July, 2017, with the NSE on 8 September, 2017.
Nigerian Enamelware Plc is a Nigeria-based company, which is engaged in the manufacturing and marketing of enamelware, plastic products and galvanized bucket.
The Company operates through three segments: Enamelware, Plastic and Galvanised bucket. The Company’s holding company is I. Feng Limited, which is incorporated in Hong Kong.
The company’s stock has recorded 52-wk High of N24.39 per share and a 52 week low of N22.07 per share. The company’s market capitalizations closed at 1,766.22, while outstanding shares stood at 76.03 million
